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The Latest Breaking News from Caixin

AI Specialist SenseTime Is Laying Off More Workers, Sources Say

The software developer has been gradually cutting staff while slowing hiring in recent months, one former worker told Caixin

Caixin Global

Weekly Must-Read: China’s ‘Hidden Debt’ of Local Governments Threatens National Economy

Property slump is undermining borrowers’ ability to repay

Caixin Global

Former Nio Electric Car Rival Singulato Goes Bust

Nine-year-old EV startup enters bankruptcy liquidation without delivering any vehicles

Caixin Global

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Weekly Must-Read: How Zhongzhi Became the Latest Chinese Financial Holding Group to Fall

For years, the conglomerate held a reputation as one of the premier private financial holding groups in China, but its problems escalated quickly after the sudden death of its founder, Xie Zhikun, in late 2021

Caixin Global

China's government tries to defuse economic fears after real estate developer's debt struggle

China’s government is trying to reassure jittery homebuyers after a major real estate developer missed a payment on its multibillion-dollar debt, reviving fears about the industry’s shaky finances and their impact on the struggling Chinese economy

The Independent UK

Third-Party Payment Industry Consolidates as Prepaid Card Issuers Exit

Prepaid card issuers suffer as business contracts; some exit as PBOC revokes licenses for failing to meet industry requirements, others drop out

Caixin Global

Shanghai Composite Index Fell 0.25% on Tuesday

Shenzhen Component Index closed down 0.42%

Caixin Global

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Weekly Must-Read: Race Is on to Become China’s SpaceX

Chinese startup LandSpace Technology became the world’s first private company to launch a methane-liquid oxygen carrier rocket, leaping ahead of local rivals including GalaxySpace, Chang Guang Satellite and i-Space

Caixin Global

Weekly Must-Read: China Vows to Create a ‘Bigger, Better, and Stronger’ Private Sector

Measures aim to create a more level playing field for private businesses and entrepreneurs amid sluggish economic growth

Caixin Global

Shanghai Composite Index Fell 0.11% on Monday

Shenzhen Component Index closed down 0.58%

Caixin Global

Weekly Must-Read: U.S. Sanctions Have Been Bad for Huawei, but Worse for Its Chip Design Unit

HiSilicon’s share of the global application processor market for smartphones has been bupkis for four straight quarters since April 2022, analyst report shows

Caixin Global

Local Financial Regulatory Bodies Announce Names Changes in Sweeping Overhaul

Switch affects almost 350 local branches under the now-defunct CBIRC

Caixin Global

Weekly Must-Read: China Looks to Saudi Arabia Amid Shifting Sands in U.S. Economic Ties

A recent flurry of political and business exchanges represents Beijing’s highest-level diplomatic engagement with Arab nations since the founding of the People’s Republic of China

Caixin Global

Six Killed in South China Kindergarten Attack

A 25-year-old male suspect has been arrested in connection with the ‘intentional assault’ in Lianjiang, Guangdong province, authorities say

Caixin Global

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The Independent UK

Stock market today: Asia sinks after a survey shows China's industrial activity is weakening

Asian stock markets are lower after a survey showed Chinese industrial activity weakening

The Independent UK

Stock market today: Asia sinks after survey shows China activity weakening

Asian stock markets are lower after a survey showed Chinese industrial activity weakening

Caixin Global

Ex-PBOC Deputy Head Arrested on Suspicion of Bribery

Fan Yifei now faces criminal investigations, China’s top prosecutor says

Caixin Global

Weekly Must-Read: China Grapples With Hangover From Consumer Lending Boom

The banking regulator has expanded a pilot program for disposal of nonperforming personal loans, allowing hundreds of financial institutions to offload their bad debt

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Caixin Global

Weekly Must-Read: U.S. Tensions Could Sap Chinese EV-Battery Makers’ Global Ambitions

World leader CATL and its peers face policy headwinds in the West that could benefit South Korean, Japanese rivals

Caixin Global

Chinese Computer Maker Says Its Chip was Made With ‘Support’ From Intel

Powerleader Computer System came under fire after industry experts revealed its new processor unit was seemingly identical to a product made by the U.S. giant

Caixin Global

Weekly Must-Read: China’s Proposed New Curbs on Private Securities Funds Spark Controversy

Draft rules tightening control of fundraising, investment and management have triggered concerns they will constrain securities funds’ freedom to execute their investment strategies

Caixin Global

China Battery Maker CALB Rescinds Job Offers to Hundreds of Fresh Graduates, Sources Say

The move comes amid belt tightening due to shifting market demand in the electric vehicle market

Caixin Global

Weekly Must-Read: China’s Effort to Move Mountain of ‘Hidden Debt’ Faces Uphill Climb

Local governments’ invisible debt could be as high as almost $10 trillion, double Japan’s GDP, posing a risk of destabilizing the banking and financial sector

Caixin Global

Shenzhen Residents Evacuated From Building After Support Column Cracks

More than 1,000 people were ordered out of the 14-story mixed-use building, with authorities still investigating the cause of the incident

Caixin Global

China’s First-Quarter Light-Industry Exports Fall 2.63%

Decline in bellwether for total exports reflects soft European and U.S. demand for consumer goods like footwear, furniture, toys and kitchenware

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